Ford's $5 Billion Bet On Winning The EV War

We are here in Long Beach, California, at Ford's brand new electric vehicle Development Center. Up until a few months ago, this was a very secretive location. It started as a skunkworks team with one person, and it has now grown to about 350 people, and they are developing what they're calling the Universal Electric V ehicle.This is Ford's $5 billion bet, as Ford CEO Jim Farley has called it. The main goal is to obviously compete against the growing competition of Chinese vehicles globally, as well as U.S. ...